Israeli Cybersecurity Startup Entro Secures $ 6 Million in Seed Funding
Israeli cybersecurity startup Entro has secured $6 million in Seed funding led by StageOne Ventures and Hyperwise Ventures and some Angel investors. The Angel investors include the founder of Trusteer and Transmit Security, Rakesh Loonkar, Mickey Boodaei, founder of Imperva, and Amichai Shulman, founder of Imperva and AirEye
Founded in 2022, Entro continuously monitors and guards against unauthorized access to cloud services and data as well as secrets. Secrets security is the practice of preventing access keys and credentials from being used, disclosed, or accessed by unauthorized parties. When applications need to access sensitive data and cloud services, they frequently use programmatic access keys (such as API keys, access tokens, connection strings, etc.). R&D teams are producing even more secrets as demand for cloud services rises.
The platform from Entro finds and protects secrets that are kept in vaults, source code, collaboration tools, cloud environments, and SaaS platforms while also providing context. Entro assists businesses in complying with regulations like SOC 2 that demand secret protection measures like rotation in addition to protecting cloud services and data from breaches based on confidential information.
Chief Executive and co-founder of Entrio, Itzik Alvas said, “We spoke with more than a hundred CISOs and heard the same complaints over and over. Companies have no idea how many secrets they hold in the cloud, where they are, who is using them, and most importantly, how to protect them.”
Israel’s Cybersecurity Industry
Within Israel’s technology and innovation ecosystem, the cybersecurity industry is one of the most rapidly expanding segments. With a wealth of cybersecurity startups, established businesses, research institutions, and government initiatives, Israel is widely regarded as a global powerhouse in the field. Some cybersecurity startups in Israel are; Stealth, Dig Security, Neosec, Hunters, Armo Security, Seemplicity among others.
In 2022, overall funding for Israeli cybersecurity startups dropped by a 64 per cent from $8.84 billion to $3.22 billion in 2021. Also the number of funding rounds decreased from 135 in 2021 to 94 in 2022.